Conjoint Analysis Modelling of Stated Preferences. A Review of Theory, Methods, Recent Developments and External Validity

Conjoint Analysis Modelling of Stated Preferences. A Review of Theory, Methods, Recent Developments and External Validity

Conjoint studies, appropriately designed and used, are found to be capable of predicting real behaviour in real markets. Discrete choice tasks are more reliable than ranking or rating tasks. The author makes suggestions for further research.

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Econometric Issues in Stated Preference Analysis

The error structure of SP models is a somewhat neglected topic. Utility functions from SP data cannot usually be used directly in demand forecasting. Market segment techniques should be used to deal with this till new techniques have been developed. More research is needed.

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